New forward looking Guidelines issued by Department of Expenditure, Ministry of Finance to improve the efficiency with which Public Funded Schemes and Projects are appraised and approved; In order to bring-in the concept of outcome evaluation to improve the delivery of public goods and services to the citizens – News and Press Release – Dated:- 10-8-2016 – In order to build a growth friendly eco-system, financial processes and systems are as important as the fund allocations. The Department of Expenditure, Ministry of Finance has issued comprehensive guidelines on 5th August, 2016 for appraisal and approval of public funded schemes and projects. With the announcement in the Union Budget, 2016-17 of doing away with Plan Non-Plan distinction
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and formats for appraisal and approval of schemes (program based costs centers for delivery of public goods and services) and projects (which involve one-time expenditure for creation of capital assets yielding financial/economic returns). The implementing Ministries have been delegated powers to appraise schemes and projects costing up to ₹ 500 crore through their Standing Finance Committee and Delegated Investment Boards respectively. Specific time frame for appraisal have been laid down for speedier decision making. The revised guidelines are forward looking and will help the Departments restructure their schemes in a framework that is independent of the Plan Non-Plan distinction. Click here to see Office Memorandum(OM) – News – P
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